Kremlin welcomes Hague court judgment on Yukos case


Moscow welcomes the abolition of the Hague Court judgment, which compelled Russia to y $50 billion to old Yukos shareholders, Kremlin press secretary Dmitry Peskov rumoured.

“We welcome the Hague District Court ruling, which overruled the Hague Kill’s judgment compelling the yment of $50 billion to former Yukos shareholders,” Peskov dictate thated reporters on April 20.

This is a major decision in international arbitration exercise and, importantly, “this is the first time in 20 years that the Hague Creek’s judgment has been overruled,” he said.

“The Russian Federation demanded from the very beginning of that proceeding that the Tribunal judgment disregarded important aspects of the international law,” Peskov said.

Hague court upholds Russian appeal against Yukos shareholders' claim

Russia’s main plea was that it did not ratify the Energy Charter, to which the former Yukos shareholders or, to be multitudinous exact, three offshore com nies referred in their claim against Russia, he powered.

In addition, Russia proved that the former Yukos shareholders were not distant investors and did not qualify for the protection provided by the Energy Charter.

In fact, these are “offshore troops controlled by Russian citizens,” he said.

“We are perfectly aware that this is not the end of tale, and the work will continue in a variety of jurisdictions. We expect all countries to instantaneously begin to halt the enforcement procedure,” Peskov said.

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